When used in this chapter, the term:

(1) “Aggregate demand deposits” means the deposit against which reserves must be maintained by banks and trust companies and includes total deposits, all amounts due to banks, bankers and trust companies, the amount due on certified and cashier’s checks, and for unpaid dividends, less the following items:

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(a) Total time deposits;

(b) The amounts due it on demand from banks, bankers and trust companies, other than its reserve depositaries, including foreign exchange balances credited to it and subject to draft;

(c) The excess due it from reserve depositaries over the amount required to maintain its total reserves;

(2) “Assessment” shall be construed as synonymous with the word “forfeiture”;

(3) “Bank” means any corporation soliciting, receiving or accepting money, or its equivalent, on deposit as a business, whether the deposit is made subject to check, or is evidenced by a certificate of deposit, a passbook, a note, a receipt, or other writing, and specifically a commercial bank chartered under this chapter or a national bank located in this state;

(4) “Demand deposits” means deposits, payment of which can legally be required as provided in federal law and regulation;

(5) “Dividend period” means the period from the date as of which the last dividend of any corporation to which this chapter is applicable was declared to the date selected for the declaration of the next dividend; or the period from the date when its corporate existence began to the date as of which the first dividend is declared;

(6) “Net earnings” means the excess of gross earnings of any corporation to which this chapter is applicable over expenses and losses chargeable against the earnings during any dividend period;

(7) “Population” means population as determined by the last state or federal enumeration; or when used in connection with the words “unincorporated village” as determined by the finance commissioner from the best available sources of information, except as otherwise provided in this chapter;

(8) “Reserve depositary” means a bank, trust company or banking corporation approved by the finance director as a depositary for reserves on deposit;

(9) “Reserves on deposit” means the reserves against deposits maintained by any corporation pursuant to this chapter in reserve depositaries, or in a federal reserve bank of which the corporation is a member, and not in excess of the amount authorized by this chapter;

(10) “Reserves on hand” means the reserves against deposits kept in the vault of any individual or corporation pursuant to the provisions of this chapter;

(11) “Stockholder”, unless otherwise qualified, means a person who appears by the books of a stock corporation to be the owner and holder of one or more shares of the stock of the corporation;

(12) “Surplus” means the excess of assets over liabilities including liability to stockholders;

(13) “Surplus fund” means a fund created pursuant to the provisions of this chapter by a bank or trust company from its net earnings or undivided profits, which to the amount specified in this chapter is not available for the payment of dividends and cannot be used for the payment of expenses or losses so long as any corporation has undivided profits;

(14) “Time deposits” means all deposits, the payment of which cannot legally be required as provided in federal law and regulation;

(15) “Total profits” means the total amount of undistributed net earnings of any corporation to which this chapter is applicable from the date of its organization, including such portions of its surplus fund or guaranty fund as have been derived from net earnings or from undivided profits;

(16) “Total reserves” means the aggregate of reserves on hand and reserves on deposit maintained pursuant to the provisions of this chapter;

(17) “Undivided profits” means the credit balance of the profit and loss account of any corporation to which this chapter is applicable.